#497: Prudential Working To Double Impact Investing Portfolio Focuses On Newark
Never miss another interview! Join Devin here: http://bit.ly/joindevin. Read the full Forbes article and watch the interview here: http://bit.ly/2hTjlEg. Subscribe to this podcast on iTunes by clicking here: http://bit.ly/ymotwitunes or on Stitcher by clicking here: http://bit.ly/ymotwstitcher. ------------------ Devin Thorpe , CONTRIBUTOR I cover social entrepreneurship and impact investing. Opinions expressed by Forbes Contributors are their own. Pause Mute Current Time 0:03 / Duration Time 0:15 Loaded: 0%Progress: 0% Fullscreen In the Spring of 2014, Prudential Financial, Inc., announced a commitment in double its impact investment portfolio from about $500 million to $1 billion by 2020. Half way through that period, the financial giant reports it is making progress, with much of the investment going to redevelopment efforts in Newark. Prudential was founded 140 years ago in Newark, New Jersey and remains there today. Lata Reddy, Vice President of Corporate Social Responsibility, says that the decision to stay in Newark was not simply "inertia." She says, the company has repeatedly decided to stay in the community and to invest in it as part of its social mission. Prudential reports investing more than $400 million in Newark's civic infrastructure, to help create new jobs and attract more consumers. Projects include: The redevelopment of the historic Hahne & Co. building into a mixed-use development featuring street-level retail, which will include a Whole Foods Market, mixed-income apartments, and space for Rutgers University. ------------------ Read the full Forbes article and watch the interview here: http://bit.ly/2hTjlEg. Need a corporate social responsibility speaker? Learn more about Devin Thorpe at http://corporatesocialresponsibilityspeaker.com.